News Summary

• u.s.-Iranian officials said on Sunday they had agreed on a framework to end their war, halt the u.s. blockade ‌of Iran and reopen the Strait of Hormuz.
• Yet its status was not entirely clear with Trump saying the strait would be toll-free, while Tehran said it would control the vital waterway along with Oman.
• Cheaper oil might also strengthen the position of the doves on the Fed board, presumably including its Chair Kevin Warsh.